What To Look For In A Property Management Solution?September 27, 2018
With the world moving towards digitization, the way to handle business data and processes has changed significantly. Across the globe, the innovative business software and solutions have empowered every industry to handle processes more efficiently and effectively. One such industry is real estate, which has benefited a lot from ever-evolving computing and software technologies. A perfect example for this is Property Management Software. It automates all the complex processes and helps in saving human time and effort.
Managing multiple properties is a tedious task. Owners juggle many tasks, like finding a new tenant, keeping up with maintenance and much more. The solution to such tasks is Property Management Solutions. Property management software helps in eliminating the management hassles of a rental property with maximum accuracy. Just like a good property management service provider company, efficient property management software also adds a significant value to your property investment.
Before purchasing a Property Management Software, here is what you should look for:
Cost – Management Software comes at a different price or some have scalable pricing plans that include more features for an elevated price. Usually, on-premise software is higher priced than cloud-based solutions. It is also important that you know if implementation, training and support services are included in the cost or these will additional fees.
Scalability – Planning to expand your real estate investments or anticipating property owners and tenants accessing the software, in that case, you will need a solution that can be scaled up or down depending on your need. You will also like to ensure that the software can accept as many users as possible.
Integration with existing system – If you are already using a Property Management Software, you will want to check if the vendor offers data migration services. Also, if you are considering on-premise software, it is vital to find out whether it can integrate with your existing server or hardware.
Demo of the solution – Just by reading the specifications and features you cannot be sure if that is the software you are actually looking for or are you able to use it. Ask your vendor to give you a demonstration so you can know how it works and if it is fulfilling your requirements.
Training and support services during and after implementation – Is the solution user-friendly and can be used by non-technical people or a special training will be required for it. If special training is required, does the vendor offer such training? Prefer a vendor that provides training for the software at your convenience. Additionally, make sure that even after the software is deployed, they provide 24/7 tech or customer support via phone or online.
Reference check – Request your vendor to let you speak to their previous and current users of the software. Ask the references if there have been any issues with the vendor or the solution. You will want to get an input on not just the positive experiences, but issues as well.
Everyone’s requirement is different; one may require a few specific services and the other may need a full-featured solution. It is always a good idea to have a checklist of your requirements and a list of questions to ask before looking at vendors. Property Management Solution gives you more flexibility, as you don’t have to look for a service provider from the particular city. For example, if your properties are in Mumbai and Delhi, you don’t really have to look for the companies which provide Property Management Services in Mumbai and Delhi, one software can ease your management hassles irrespective of in which part of India your property is in.